Last year, Egypt and Sudan approved several measures to strengthen their trade relations. The measures seem successful because, according to the Egyptian government, trades with Sudan have exceeded the US$1 billion mark.  Trade flows between Egypt and Sudan reached US$1.165 billion, up by 60% year-on-year, the Egyptian Ministry of Trade revealed in a release published on Wednesday, August...

The three main U.S. rating agencies’ decision to downgrade Ghana’s debt to the speculative category raises questions about the relevance of those ratings.  Truly, the West African country is facing challenges but the rating downgrade is all but unquestionable.  The credit default swap - the risk premium demanded by investors to protect themselves against default risks- on the debt...

With the acquisition, Chimera becomes the majority shareholder of the EGX-listed financial holding.  UAE-based investment firm Chimera Investments LLC announced, Tuesday (August 9), the completion of a majority stake acquisition in Egyptian financial services company Beltone Financial Holding. To acquire a 55.9% stake in the financial holding, Chimera, which manages a diversified portfolio...

A few years ago, Côte d’Ivoire initiated a hospital construction and renovation program to improve the quality of healthcare in the country. The program is supported by various partners.  Côte d’Ivoire will invest more than US$74.9 million in the construction of two hospitals in the north. According to an official release, the construction works were launched last Tuesday, August 9,...

The fintech portal is launched months after the central bank partnered with investment manager CDG Invest to facilitate the development of Moroccan fintech startups.  The Moroccan Capital Market Authority (AMMC) announced Monday (August 8), the launch of a new fintech portal on its website. According to an official release published by the regulator, the portal was “designed to support...

The Biden-led U.S. administration is gradually unveiling its African cooperation strategy. The strategy focuses on strengthening democracy but, it also aims to counter Russian and Chinese influence. The United States of America will invest US$2 billion over ten years to boost democracy and good governance in sub-Saharan Africa. The information was disclosed by State Secretary Antony Blinken...

The agreement, which offers rebels security guarantees has not been signed by the rebel movement behind the offensive that cost the life of former President Idriss Déby Itno. Chad's military government signed, today, an agreement with about 40 rebel groups and opposition movements for a national dialogue, to be held in N’Djamena on August 20, 2022.  The agreement was signed, in Qatar,...

In June 2022, Cote d’Ivoire’s average annual inflation rate was 4.7%, according to the national institute of statistics.  The rate, which is above the WAEMU convergence criteria threshold (3%), prompted the government to initiate measures to protect the population’s purchasing power.  Côte d’Ivoire will implement new measures to combat the rising cost of living. The measures...

The commitment comes over a year after WE! Fund committed funds in a bakery in Senegal.  Women's Economic Empowerment Fund (WE! Fund), a fund investing in Sub-Saharan African women, recently committed XOF250 million (US$389,848) to Dialibatou Invest, a Senegalese coffee roaster. The investment agreement was signed on Thursday, August 4.   “Dialibatou Invest is an attractive...

In November 2017, during Orange CI headquarters’ cornerstone laying ceremony, former Prime Minister  Amadou Gon Coulibaly informed that the government and the telecom operator were collaborating to prepare an IPO process. The process is finally kicked off four years after the announcement.   Côte d'Ivoire will sell 9.95% of its 14.95% stake in Orange CI on the BRVM, the West...